Tag: Provident
Indian government casts an evil eye over your PF
Budget 2021 has restricted avenues for tax-free returns for middle-class taxpayers. From April 1, returns on investment of more than Rs 2.5 lakh in two of the most popular instruments — provident fund and unit linked insurance plan (ULIP) — will be taxed. This, say industry sources, will bring ULIPs on a par with mutual funds, doing away with the edge they have had since 2018 when long term capital gains was introduced. With this amendment, return on investment up to Rs 2.5 lakh in PF will remain tax-free while the return on the portion exceeding that amount will be ... Read more